An established Chicago-area commercial real estate executive, Rich Turasky leads the Capital Companies and has overseen dozens of acquisition, redevelopment, and construction projects. Rich Turasky has also partnered with The Prime Group and Craig Realty Group in forming Huntley Investment Partners (HIP). A current project centers on developing a 60.8-acre site alongside I-90 in Huntley, Illinois.
This prime property was purchased by HIP from the Simon Property Group in early 2016. The existing outlet mall, with a 320,000-square-foot footprint and a low occupancy rate, was razed in 2018. The present plan calls for an industrial development that will be more than double the square foot usage across multiple buildings.
The new site will offer state-of-the-art facilities within a business park setting that can accommodate a full range of industrial uses. With construction kicking off in the summer of 2021, the site has already been improved and zoned, which makes it ideal for immediate development. It also meets a distinct market need as the first business park of its capacity within the emerging Route 47 corridor.
